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A judgement in Hong Kong has exposed activities involving Carlos Luis Aguilera Borjas. A lawsuit pitted Emirate Distributors Limited and Salam Corporation Limited versus Aall & Zyleman Company Limited, its owners and some staff. Emirate and Salam belong to Netmedical, a Venezuelan company associated to Aguilera Borjas. Aall & Zyleman was engaged by Switzerland's Fidinam, a money laundering service company that incorporated Nandalo Assets Corp and Lextrop Wealth Inc in Panama for Francisco Novoa Perdiz and German Alvarez Garcia, in turn two proxies of UBO Aguilera Borjas.
Julio Cesar Moreno Villaverde is described as director of Emirate and Salam. Eduardo Salzberger, partner of Aguilera Borjas and a Compagnie Bancaire Helvetique (CBH) client, is mentioned in proceedings, as well as a Miami lawyer, called Harvey Delano Rogers, who had done work in the past for Netmedical. A window into Netmedical's business in Venezuela is provided:
"In fact on one occasion, a sum of USD 22,479,990 was credited into P2’s account on 3 July 2012 [59] from, according to Mr Rogers, the Department of Social Security of Venezuela through the Ministry of Social Security for dialysis equipment [60]. Then, on 12 July 2012, Mr Rogers sent an email to Sandra for a sum of USD 22,000,000 to be transferred into an account held in P2’s name at CBH Compagnie Bancaire Helvetique SA in Geneva..." [bold added]
The core of the dispute were six fraudulent wires, worth USD 1,898,000, that were made from Emirate and Salam accounts in HSBC and Hang Seng Bank to individuals and companies in Thailand. Wire instructions were sent by an email address very similar to the one used in course of "normal" Netmedical business by Rogers. Basically a case of stealing from a bunch of thugs, or as the judge aptly put it "evidence of both Mr Moreno and Mr Rogers was unsatisfactory and unreliable."
Aguilera Borjas and Salzberger are members of an "entrepreneurial class" that emerged in Venezuela since chavismo got to power. A former army captain, Aguilera Borjas went from nothing to a fortune of over $100 million according to Charles Henry de Beaumont, his banker at CBH. Salzberger, on the other hand, also has a net worth of over $100 million, thanks in part to his stake in Netmedical. Interestingly, a "due diligence report" made by Frank Holder / FTI Consulting in October 2013, described Salzberger just as a "legal representative" of Netmedical and Salam, not as a stakeholder.
The judge found Aall & Zyleman "liable, vicariously or otherwise" and ordered payment of 50% of amount wired from Aguilera Borjas' accounts.
